On Feb. 22, Bulls chief operating officer and president Michael Reinsdorf spoke with The Athletic as part of a story on his unique interaction with a critical fan. As part of that interview, Reinsdorf also responded to questions and criticisms posed to him about the state of the franchise. Those comments were expanded upon in a subsequent interview on March 7. The conversation below includes portions of both of those interviews. They have been lightly edited for clarity.

You’ve said before that the money the Bulls take in from cash trades goes back into basketball operations. I’d like to hear more about the accounting specifics that back that statement. You took in the maximum in cash considerations the past two years, totaling a little more than $10 million. You’ve mentioned buying a first-round pick for $3 million to draft Luol Deng back in 2004. Those totals don’t seem to add up. What would you say to a fan who is wondering why that money isn’t visibly going...